EDIT 26.07.
Starting the game from Steam overlay works again - I updated the graphic drivers and Steam did 2 updates , no idea which helped.
....
A funny bug here. When I try to start the game from the steam Library ( PLAY button), the executable crashes at once.
At first i verified steam cache , then deleted the files (holy macaroni, over 60K of them) and let steam reinstall.
Using one of the exes( Xenonauts.exe or Xenonauts_gc_editor.exe) from steamapps directory starts the launcher without any problems, i also can play without any hickups.
I suppose that is guilt of my ancient system, but maybe you can use the information.
Crash information:
Problemereignisname: APPCRASH
Anwendungsname: xenonauts.exe
Anwendungsversion: 0.0.0.0
Anwendungszeitstempel: 53cb98b0
Fehlermodulname: ntdll.dll
Fehlermodulversion: 6.0.6002.18881
Fehlermodulzeitstempel: 51da3e27
Ausnahmecode: c0000005
Ausnahmeoffset: 00066462
Betriebsystemversion: 6.0.6002.2.2.0.768.3
Gebietsschema-ID: 1031
Zusatzinformation 1: ce0c
Zusatzinformation 2: 94ba92c003939167c4275e9c6fc7affe
Zusatzinformation 3: 910b
Zusatzinformation 4: 87059b28b481682ec6f299eac3decd4f